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The Impact of Homeownership on Educational Achievement | MyKCM

The National Association of Realtors recently released a study titled 'Social Benefits of Homeownership and Stable Housing.' The study confirmed a long-standing belief of most Americans:

"Owning a home embodies the promise of individual autonomy and is the aspiration of most American households. Homeownership allows households to accumulate wealth and social status, and is the basis for a number of positive social, economic, family and civic outcomes."

Today, we want to cover the section of the report that quoted several studies concentrating on the impact homeownership has on educational achievement. Here are some of the major findings on this issue revealed in the report:

  • The decision to stay in school by teenage students is higher for those raised by home-owning parents compared to those in renter households.
  • Parental homeownership in low-income neighborhoods has a positive impact on high school graduation.
  • Though homeownership raises educational outcomes for children, neighborhood stability may have further enhanced the positive outcome.
  • Children of homeowners tend to have higher levels of achievement in math and reading and fewer behavioral problems.
  • Educational opportunities are more prevalent in neighborhoods with high rates of homeownership and community involvement.
  • The average child of homeowners is significantly more likely to achieve a higher level of education and, thereby, a higher level of earnings.

Bottom Line

People often talk about the financial benefits of homeownership. As we can see, there are also social benefits of owning your own home.

*The next two Thursdays, we will report the study's findings on the impact homeownership has on civic participation and a family's health.


Will Increasing Mortgage Rates Impact Home Prices? | MyKCM

There are some who are calling for a decrease in home prices should mortgage interest rates begin to rise rapidly. Intuitively, this makes sense as the cost of a home is determined by the price of the home, plus the cost of financing that home. If mortgage interest rates increase, fewer people will be able to buy, and logic says prices will fall if demand decreases.

However, history shows us that this has not been the case the last four times mortgage interest rates dramatically increased.

Here is a graph showing what actually happened:

Will Increasing Mortgage Rates Impact Home Prices? | MyKCM

Last week, in an article titled "Higher Rates Don't Mean Lower House Prices After All," the Wall Street Journal revealed that a recent study by John Burns Real Estate Consulting Inc. found that:

"[P]rices weren't especially sensitive to rising rates, particularly in the presence of other positive economic factors, such as strong job growth, rising wages and improving consumer confidence."

Last week's jobs report was strong and the Conference Board just reported that the Consumer Confidence Index was back to pre-recession levels.

Bottom Line

We will have to wait and see what happens as we move forward, but a decrease in home prices should rates go up is anything but guaranteed.


Thank You for Your Service! | MyKCM

Thank you for your service!


June is National Homeownership Month!



Some Highlights:

  • Paying rent is not a good investment, but owning is a great way to start building family wealth.
  • Not only does homeownership allow you to provide your children with great education, but you can also decide whether or not your child grows up with a pet.
  • Owning a home provides you with tax benefits while also providing you with more living space to move around in.

Housing Market To

Just like our clocks this weekend in the majority of the country, the housing market will soon "spring forward!" Similar to tension in a spring, the lack of inventory available for sale in the market right now is what is holding back the market.

Many potential sellers believe that waiting until Spring is in their best interest, and traditionally they would have been right.

Buyer demand has seasonality to it, which usually falls off in the winter months, especially in areas of the country impacted by arctic temperatures and conditions.

That hasn't happened this year.

Demand for housing has remained strong as mortgage rates have remained near historic lows.

The National Association of Realtors (NAR) recently reported that the top 10 dates sellers listed their homes in 2015 all fell in April, May or June.

Those who act quickly and list now could benefit greatly from additional exposure to buyers prior to a flood of more competition coming to market in the next few months.

Bottom Line

If you are planning on selling your home in 2016, meet with a local real estate professional to evaluate the opportunities in your market.


Peter Haring PhotoHomes in north central Ohio are appreciating, good news for both sellers and buyers. In Richland County, the median home price  per the local MLS for the 12 months ending September 30, was $89,900.  That compares to a median price of $84,000 for the previous year which indicates strong year to year price appreciation of approximately 7%.  Although home prices have not yet returned to peak levels, the current trend is good news for homeowners.  For comparison, when local home values were peaking, the median home price in 2005 for Richland County was $94,900.

Due to what is often times the negative bent of the news media, many homeowners don't realize  how values have increased.  A recent study by Fannie Mae, surveyed homeowners and asked them if they thought they had at least 20% equity in their home.  The results showed that 37% believed they had at least that amount of equity.  The study further showed that in reality 69% of those same people surveyed had 20% or more equity.  I found this really interesting.  Many homeowners don't have a good understanding of their property value. For homeowners reading this who would like to know the current value of their home, I would suggest calling our office and speaking with one of our sales associates.  They will be glad to perform a no-obligation free market analysis of your property.

How about if you are looking to buy?  Prices are still well below levels from 10 years ago but we can see they are quickly returning to "normal levels".  Interest rates remain near historic lows.  Finally, it is now  possible to buy a home with a down payment of as little as 5% and sometimes even lower.  Banks are anxious to make home loans today.  Our office can recommend a list of local lenders that will be able to quickly pre-approve you for a home loan.  This will help you understand how much home you can afford and the amount of your monthly payment.  With home prices growing again at normal levels, homeownership is a great long term investment.  According to the "Home Price Expectation Survey" for the 3rd quarter of 2015, even the most pessimistic economists (aka "The Bears") expect house prices to increase nationally by 10.5% between now and 2019.  
Consequently, people buying a house today, will enjoy not only the quality of life offered by their new home, but also earn a good financial return on their investment.


photo of Matt Walker

Congratulations Matt Walker!

Top Selling Agent for the Month of September!


Andy Moncayo Steve KeetleNorval Blackwell

Congratulations to These 3 Top

Listing Agents for the Month of June!

Andy Moncayo, Steve Keetle, & Norval Blackwell


Andy Moncayo

Congratulations to Andy Moncayo!

Top Selling Agent for the Month of June!


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